260 Cornelia Street — Sale in Brooklyn, NY

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Brooklyn, NY 11221

Photos

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Investment Figures

Cap rate
6.60%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 260 Cornelia Street, a six-unit multifamily property located in the heart of Bushwick, Brooklyn. This well-maintained asset consists of six fully occupied fair-market two-bedroom apartments and offers investors immediate cash flow with significant upside through natural rent growth and lease turnover. The property contains approximately 5,025 square feet and is currently generating a strong 6.6% cap rate at the asking price of $2,495,000. All six apartments are free-market units, providing ownership with maximum operational flexibility and the ability to capture market rents without regulatory restrictions. Current rents average approximately $3,017 per month, with a clear path to achieve pro forma rents averaging $3,350 per month, increasing annual revenue by over $24,000 and driving a projected 7.4% cap rate. The building features six spacious two-bedroom apartments, each approximately 711 square feet, with select units offering desirable amenities including backyard access and skylights. The apartments have been renovated with modern finishes, updated kitchens, in-unit washer/dryers, split-system air conditioning, and contemporary flooring, making them highly attractive to today's renter demographic. Investment Highlights: • 260 Cornelia Street, built in 1907, is a 6-unit multifamily asset, sitting on a 25' x100' Lot, approx. 5,025 SF. • Tax Class: 2A | Zoning: R6 | 100% Fair Market • 260 Cornelia Street benefits from its proximity to the Myrtle-Wyckoff transportation hub, providing convenient access to both the L and M subway lines.

Market Context

This multifamily in Brooklyn, NY is listed for sale. It is offered at an approximate 6.6% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in Brooklyn, NY — view the full market.

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